hags1

Well I'm on the bandwagon for no ADM and I watch ebay once in awhile to see what the latest 'price' is for the GT500....To test the water and to see if maybe the dealers are getting sick of listing their 'showroom queens' over and over, I watched a convertible list and close 4 times without reaching it's reserve....it ended all 4 times right around $60K....MSRP is $50K on this car. Well I thought I'd give the guy a call and see what kind of a 'deal' I could work for his multiple-listed GT500 convertible and a trade-in of my 05' GT convertible. The best I could do was my car and $30K to boot....I've modded my car with some nice upgrades, and I know most mods. are wothless once you go to sell or trade, unless the buyer is really into your car as much as you are.....So I'm wondering how far off from MSRP am I really at here....What's the value of a low mileage (3000 miles only) 05' convertible as a trade in?

hags1

1 COBRA

Try www.kbb.com for the present value on the three different categories.

1FAFP90

Have you tried looking at the numerous used car value websites such as www.kbb.com or www.edmunds.com ? Your friendly banker or credit union loan officer can give you an idea on values as well. Take your car to another dealer and ask how much cash would he give you right now.

crispy23c

So, you are saying he will give you $30k for a 2-year old Mustang GT 'vert? Usually, a 2 year old car can lose 30% to 40% (wholesale) Regardless of the mileage, it sounds pretty good to me!

hags1

Well...my kbb.com trade in value is $27K, private sale value is $29K, retail value is $31K....I guess there's two ways to look at this deal.

I'm giving up $57K (trade-in value plus $30K) for a $50K (MSRP amount) GT500....basically $7K over MSRP.....the thing to remember is my 05 is modded, which means the factory warranty is most likely void....so he'd get an 05' with no warranty left...unless they return it back to stock....so part of me thinks the $27K for my car is a fair deal...well the part of me that asks, would you buy a trade in modded 05' without a warranty, or a stock 05' with basically a one year warranty left??
.....the other side of me says....wait....you have a $31K (retail value) car with $9K in paid for mods. So basically I'm now giving up $70K for the $50K GT500....now it's way over MSRP...
I know mods. are basically worthless when it comes to trade-in, but what about resale of the car??.....Am I missing something here??...Why is he interested in selling me the GT500 for basically $57K (original thought process) when he's had ebay bids up to $60K....is my modded 05' worth that much more??

hags1

Stangette

Trading in your car modded w/o warrenty makes it more difficult for a Dealer to sell and most likely goes to auction. That will knock of an almost automatic 3K from the Trade there.

It is a known fact there is no credit on trade ins for aftermarket or "mods". Unless, a high quality rim or custom paint;- and this is rare.

Considering the KBB Depreciation and the asking Price of the GT500, a 7K overage in the current Market is not bad. If i had ten of those to sell right now i caould call six people in my Dealer list of ready buyers under 8K overage. Reality in the Market is 7K is not bad.

The 31K + 9K paid for the car is not the Realized Value of the car. The Written Quote from a Dealer or CarMax is. This will likely be in region of the KBB if the car is deemed in condition it is claimed to be by the Appraisers. Similar to house buying, find a dealer to appraise whom has an Independent Appraiser that is paid by the Job and no commission by the Dealer Itself.

I am by no means encouraging you to pay over for any vehicle, but while the offer is on the table make the research and check the Market. When you then make decision to not purchase and the Seller's Offer no longer stands, then you will not be left wondering what if. I personally have had too many Clients do that;- i have begun to ask them to think and research prior to calling it off. After they make their decision, oftentimes they purchase what they can afford. So, there is no real reason for me to anticipate a loss of sale. This happens average 7/10 and is one sweet closing ratio.

crispy23c

Wow, hags1..you sound like I do! I chase my own tail all the time
Well, it's a personal decision, I guess. Keep us posted!

Mike McRann

It looks like it might be awhile before the dealers bring prices down to MSRP on the GT-500. The reason I say this is that today I took my car in for a minor repair (rear signal light went out yesterday, called the dealer for the correct bulb number and they offered to replace it at no charge).
While at the dealer I saw two GT-500's on the lot, with <get this> a $40,000 "market value" which brought the asking price to $80,000.

I ran into a friend of mine that works there in the finance department and he told me 'they will sell at $20,000', and when I mentioned that if I was in the market for a GT-500 I would wait until the prices drop.

I also reminded him the same thing happened with the 05's when they came out (ADM) and he replied 'they always mark up new models for awhile when they 1st come out'

hags1

Well reading Stangette's comments and finding this on carmax.com, maybe this is a pretty good deal for a GT500...My car has 3K less miles, and I'm not sure what options are on the car at carmax, but it seems 25 to 27K is fair trade-in value for my car....So maybe I'm not paying that much over MSRP after all.....
The GT500 has been listed 4 times that I know of and maybe this particular dealer is gettting sick of relisting the car....Do they pay for each time it's listed on ebay? What does it cost to list a car on ebay? Maybe it's a sign that ADM is starting to diminish some?? I don't know...Maybe his GT500 isn't the popular color combo or most preferred package....

The GT500 is 300 miles away from me, so I was up front with the guy in all that I've done to my car....I don't feel like driving all that way and then have the deal fall thru becuase I somehow misrepresented what I have....I invited him to my webpage of my car and told him I have all the original FOMOCO parts that were replaced with mods.....less the original wheels and tires....

I'm going to go ahead and see what the final deal shakes out to be....wish me luck....I was expecting to have to wait a good while longer....it'll be amazing if this deal goes thru...

hags1

Stangette

It is worth a shot. You may be happy with the Seller's Offer. BTW - What color is the GT500 that was listed.

Regarding the E-Bay, depending on their Membership Level, they may not have to pay much for multiple Listings of the same Item. Check to see if the Item Number is different each time. This may indicate an extra fee was paid. Also, on high priced items, a set fee is neog. and not a percentage of the Sale Price.

We now have a Red w/ white stripe Shelby in our Showroom here in Houston - near loaded - asking 62K-ish - straight offer. No haggling. It is the lowest price one i have seen here thus far. So, it appears the prices are dropping, slowly.

crispy23c

Well?!?!?! What happened????

05-1947

For an 05' conv.??? New 07's are 35k with invoice of 33k and rebates of $1500 now, so a new would cost you 31,500. If they are giving you 25-27k you should have taken it and ran.

I don't know what they have been telling you, but a realistic trade value for a 05' conv GT is probably somewhere around 23k.

hags1

Nothing yet....They won't confirm what they said the first time around....I think the salesman I talked to when I called has been 'replaced', or maybe he's just the guy that hooks you in and gets you to the dealership and then the regular salesmen take over?
The initial deal of my car and $30K seems to have left his memory. The couple times I've called for him lately, he's not around...I talked to his boss and he said no such deal available...He wants $70K for the car...I told him I would wait then since ADM seems to be dying....we'll see what happens....oh well.....

hags

Stangette

Sounds like they were trying to get you tempted to hook you on a higher price. Unless they give you an active quote on the price of the car and the value of your trade-in; don't believe anything they tell you. This tactic is happening a lot on the E-Bay listed cars.

Visiting the Seller and putting it all in writing in person seems the safest bet to avoid all this hassel and let down.

I would be disappointed same as you in this situation, but waiting can be a good thing. The value of you car will not go down that much if you wait a couple months more.

Hollywood_North GT

Personally, unless you have no patience and absolutely have to have it now, paying more than MSRP for a car - any car - is nonsensical. A car is one of the most expensive purchases most of us make in our lives (after a home) and yet it is also one of the fastest depreciating; cars are a giant hole in the water. Paying any extra money for this car - never mind another $20K - is absolutely preposterous, and you will never get it back at the other end of the equation.

And please don't think you'll recoup your money years later when this car becomes a "classic." There are too many reasons to list why this is a flawed strategy.

Stand your ground and wait your turn. Eventually, these cars will come down to MSRP - even if it takes to the final year of S197 production.

Remember, too, there has been talk of Shelby iterations of the 2010 MY as well. There will be plenty of opportunity for Shelby ownership for those who are patient.

Stangette

Yes, cars are bad investments. Pay only what One thinks it is worth to them;- and only MSRP or above if you intend to keep it for a long time. (Even then, it is hard to justify when the price over is like they are in most places on a GT500) I did not pay much over on mine back last August when they were at their highest, and given that it was a car i had always wanted with a low serial, and intend to keep for years, it was still a decision process. These days most people change cars often and it is not worth paying over MSRP for it in these instances.

I have been hearing talk at the dealers about another Shelby Edition Mustang to come after the GT500 and the Shelby GT, but for now, it is just talk and no substantiation with it. Given the popularity of the cars and the demand for a sensible price; somewhere in the 30s, Ford would be smart to provide for this Market, IMO.

Lord Chabelo

First time I was offered the opportunity to purchase a GT500 (I know, lucky me) back in September of 06, the dealer wanted $40K over with no financing. Told them to call me back when they wanted to sell it at MSRP.
Around December of 06, the dealer calls me again and tells me they can let the Shelby go for $20k over. Thanks, but no thanks.
Yesterday the dealer called again, they absolutely have to move the Shelby and will drop the asking price to $16K over and since I have showed interest I was the first one they called...right...
Told them I was not paying a cent over MSRP and then the guy offered an 06 Stage 3 Roush or an 06 SC281 Saleen as possible options for my price range.

Stangette

Stand your ground for what you want. The MSRP will happen eventually. Offering an alternative Performance Vehicle in the Client's price range is a common sales tactic;- not good for you if you don't want either of them.

Evidently, the Dealer keeps working on you and will more than likely call you with an offer again.

WuTimeUT

hey Lord Chabelo, I'm in Austin, was the dealer your speaking to local? I havent seen any GT500s around here?

codeman94

He must not know how much those cars cost either....